Grace-I've seen some flipper activity come back to the outlying Phoenix areas.  The problem with these homes is if a buyer is going FHA and the house has not been held for 3 months.  We had a client that like a home, but the investor not only flipped the physical property, but it went thru several LLCs or corpations, unfortuntely, the last title holder was only a few days old.  As our buyers were FHA, they needed to find a property htat has been owned for 3 months.

Grace thanks for the information. When people start flipping properties prices are on their way up.

Wow.  That is really good for this market.  The flippers are sitting longer in my market, especially when the seller overprices it.

We are going to see more and more flipping in the coming months.  Investors that got out of the market are going to be looking at ways to make money and this is one that a smart investor can do.  Lets face it, there are a lot of bargains out there, with all the foreclosures.  This is what the 700 billion bailout is all about, now people will be making a lot of money on that bail out because the mortgage institutions and the feds have already taken the hit, and the sellers are going to want to get rid of inventory. 

One of my friends bought a house on the courthouse steps, painted it, put in new carpet,  and flipped it in 1 month, (not involved in FHA) and made over $20,000.

Yes, buyers are waiting and the reason is they have to get financed and some investors are slapping down cash and turning it fast.

Pete

You can still make some flip money even in this market time. The keys vary from state to state but It can still be done. 108K thats a good payday!

It is surprising, but true, that when homes are bought at a good price and invested in carefully with "the right improvements", they can re-sell pretty quickly and at a good profit even in today's market.

Great post, Grace!